On January 4, 2024, the British Columbia Securities Commission (BCSC) warned an unlicensed trader called TopMarkets.
The regulator said TopMarkets describes itself as a company that provides a variety of financial trading services, including foreign exchange, stocks, commodities, indices and cryptocurrencies. According to BCSC, the broker operated a total of five websites, namely:
https://topmarkets.pro
https://my.topmarkets.pro
https://topmarkets.uk
https://topmarkets.co.uk
https://premiumtrade.cc
Investors should be careful to avoid these websites related to TopMarkets, as this trader was not only warned by the BCSC but also attempted to steal the registration information of legitimate companies.
Clicking on one of the URLs, we found that TopMarkets claims to be regulated in Cyprus with the regulatory number 138/11. However, it can be found through the Cyprus Securities and Exchange Commission (CySEC) that the regulatory number is held by Topfx Ltd, the operating company of the well-known foreign exchange trader TopFX.
The regulatory agency only certified the legitimate trader's URL on its website and did not indicate that the five URLs warned by the unlicensed trader TopMarkets had any connection with this legitimate company.
